Check my wRiverside Inc. makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and Sold505655805Total costsVariable costsFixed costsTotal costsCost per unitVariable cost per unitFixed cost per unitTotal cost per unit$ 71,205149,500$220,705???Required:1. Complete the table.3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.Complete his question by entering your answers in the tabs below.Required 1Required 3Required 4Complete the table. (Round your cost per unit answers to 2 decimal places.)Number of Canoes Produced and Sold505655805Total CostsVariable Costs71,205Fixed Costs149,500Total Costs220,705 $0 $Cost per UnitVariable Cost per UnitFixed Cost per UnitTotal Cost per Unit0.002$0.00$0.00< Required 1Required 3>( Prev2 of 4Next >%24%24%24 Riverside Inc. makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and Sold505655805Total costsVariable costsFixed costsTotal costs$ 71,205149,500$220,705?Cost per unitVariable cost per unitFixed cost per unitTotal cost per unitRequired:1. Complete the table.3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.Complete this question by entering your answers in the tabs below.Required 1Required 3Required 4Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution marginratio. (Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest wholepercent.)Unit Contribution Marginper canoeContribution Margin Ratio< Required 1Required 4<>

Workings: Variable cost per unit 141 = 71,205 / 505 Fixed cost per unit: 505…

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 505 655 805 Total costs Variable costs Fixed costs $ 71,205 149,500 $220,705 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.

Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 505 655 805 Total costs Variable costs Fixed costs $ 71,205 149,500 $220,705 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $506 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 855 canoes. Complete the contribution margin income statement for the company.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required 1 Required 2 Required 3 $ 52,000 $ 180,000 $ 232,000 400 New Break-Even Units Break-Even Sales Revenue $ 130.00 450.00 $ 580.00 Complete this question by entering your answers in the tabs below. Canoes 600 $ 130.00 240.00 $ 370.00
Pharoah Springs produces and sells water filtration systems for homeowners. Information regarding its three models is shown below. Basic Basic Plus Premium Total Units sold 935 510 255 1,700 Selling price $250 $430 $840 Variable cost $195 $285 $410 The company's total fixed costs to produce the filtration systems are $176,960. (a) (b) (c) (d) Determine the number of units of each model that the company must sell to break even. Basic Basic Plus Premium Break-even units units eTextbook and Media Save for Later units units Attempts: 0 of 3 used Submit Answer
Prima Step Co. produces sports socks. The company has fixed costs of $105,000 and variable costs of $1.05 per package. Each package sells for $2.10. Requirements 1. Compute the contribution margin per package and the contribution margin ratio. (Round your answers to two decimal places.) 2. Find the breakeven point in units and in dollars, using the contribution margin approach. Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by selecting the labels and entering the amounts to compute the contribution margin per package. (Round all amounts to two decimal places. Abbreviation used: CM = contribution margin.) CM per unit Now select the labels and enter the amounts to calculate the contribution margin ratio. (Enter amounts in the formula to two decimal places. Enter the contribution margin ratio as a whole percentage, X%. Abbreviation used: CM = contribution margin.) CM ratio % Requirement 2. Find the breakeven point in units and in…
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Hermosa, Inc., produces one model of mountain bike. Partial information for the company follows: Number of bikes produced and sold Total costs 460 750 910 Variable costs $110,860 $ ? Fixed costs per year Total costs ? ? Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit ? ? ? ? ? $ 522.75 Required: 1. Complete the table. 2. Calculate Hermosa's contribution margin ratio and its total contribution margin at each sales level indicated in the table assuming the company sells each bike for $690. 4. Calculate Hermosa's break-even point in units and sales revenue. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Complete the table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of bikes produced and sold 460 Units 750 Units 910 Units Total costs Variable costs $ 110,860 Fixed costs per year Total costs $ 110,860 $ O $ Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $…
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Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 540 690 840 Total costs Variable costs $ 78,300 Fixed costs Total costs 148, 300 $226,600 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $515 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 890 canoes. Complete the contribution margin income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Complete the table. (Round your cost per unit answers to 2 decimal places.) Number of Canoes Produced and Sold 540 690 840 Total Costs Variable Costs $ 78,300 Fixed Costs 148,300 Total Costs $ 226,600 $ O $ Cost per Unit Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit 0.00 $ 0.00 $ 0.00 n. n. n. %24
9. Jackson, Ltd. produces a bicycle pump. The sales price per unit is $18.98. Fixed costs are $84 000. The variable cost per unit is $11.98. Find the profit on sales of 15 000 units.
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Viva sells its waterproof phone case for $124 per unit. Fixed costs total $247,000, and variable costs are $37 per unit. (1) Determine the contribution margin ratio. Contribution margin Contribution Margin Ratio Numerator: (2) Determine the break-even point in dollars. Numerator: 1 1 1 1 per unit Denominator: Denominator: = Contribution Margin Ratio Contribution margin ratio = = Break-Even Point in Dollars Break-even point in dollars 0 0
Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 450 650 800 $ 120,000 $374,400 $ 494,400 $ 67,500 $ 374,400 $ 441,900 $ 97,500 $374,400 $ 471,900 $ 150.00 832.00 $ 150.00 576.00 $ 982.00 $ 726.00 $ 618.00 $ 150.00 468.00 Sandy Bank sells its canoes for $475 each. Required: 1. Suppose that Sandy Bank raises its selling price to $600 per canoe. Calculate its new break-even point in units and in sales dollars. 2. If Sandy Bank sells 900 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales price of $600) 3. Calculate the number of canoes that Sandy Bank must sell at $600 each to generate $110,000 profit.